SDR Ventures Advises Advanced Energy on the Sale of its Central Inverter Services Business to Bold Renewables
SDR Ventures is pleased to announce that Advanced Energy Industries, Inc. (NASDAQ: AEIS, “Advanced Energy”) has sold its grid-tie central solar inverter services business (the “Central Inverter Services Business”) to Bold Renewables Holdings, LLC (“Bold Renewables”), an affiliate of Right Lane Industries (“RLI”). SDR served as the exclusive advisor to Advanced Energy throughout the process.
For Advanced Energy, the publicly traded company with $700mm+ revenue and $2bn+ market capitalization, this was an opportunity to continue to focus on its leadership position in Precision Power Conversion. For RLI, this was an opportunity to further realize their long-term commitment of creating a family of customer-focused businesses with Advanced Energy’s central solar inverter services, which span everything from inverters to PV modules, electrical systems, tracking systems and periodic reporting.
Scott Mitchell, Vice President of SDR Ventures concluded, “We were happy to work with the outstanding team at Advanced Energy to create a win-win outcome that allows Advanced Energy to focus on their core competencies while also providing a great long-term home for the Central Inverter Services Business in Bold Renewables.”
“We have great confidence in Bold Renewables, which has been our invaluable partner throughout the transition process,” said John Williams, Vice President, Global Services of Advanced Energy. “Considering the sharp focus on renewable energy, and the fact that the U.S. solar industry reported its strongest quarter yet, we anticipate a bright future for Bold Renewable’s dedicated team of industry experts.”
Bold Renewables is a North American leader in the servicing of solar inverters, primarily supporting fields generating utility power. Bold Renewables is dedicated to continuing to grow its service platform which currently includes monitoring, break-fix, preventative maintenance and a parts business. Bold Renewables’ management, engineers and other office staff are headquartered in Fort Collins, Colorado, while the company’s service technicians are strategically located throughout North America.
About Advanced Energy
Advanced Energy (Nasdaq: AEIS) is a global leader in the design and manufacturing of highly engineered, precision power conversion, measurement and control solutions for mission-critical applications and processes. AE’s power solutions enable customer innovation in complex semiconductor and industrial manufacturing applications. With engineering know-how and responsive service and support around the globe, the company builds collaborative partnerships to meet technology advances, propel growth for its customers and innovate the future of power. Advanced Energy has devoted more than three decades to perfecting power for its global customers and is headquartered in Fort Collins, Colorado, USA. For more information, visit www.advancedenergy.com.
Advanced Energy | Precision. Power. Performance.
The full press release published by Bold Renewables can be found here.